Edina has a reputation for being the province of the upper class, but this stereotype doesn’t really hold true. Either it is false, or some of the residents are happy living in homes like the rest of us, or they want to price the homes so you can buy them.
Affordable Edina Home Foreclosures and Short Sales
Some of these cheap homes in Edina have become available to you because of bank owned foreclosures and short sales. Hard times from the last economic downturn showed no respect for socioeconomic status. One day you might be drinking Shipwrecked 1907 Heidsieck for $275,000 per bottle, and the next day you might be drinking Cold Duck for about $6.99 per bottle. You just never know.
Housing Affordability Might Not Last
Regardless of what happened to the pricing, you are the winner, and cheap Edina homes are within your reach. Don’t expect these opportunities to last forever. Affordable Edina are selling, and mortgage rates probably aren’t going to get any more favorable for first-time home buyers. Real estate in this community tends to show good resale history and makes for great long-term investment potential. This market would also be great for people who would also get started as real estate investors.
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